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AnnZ [28]
3 years ago
12

4. Which of the following is false?

Business
1 answer:
KatRina [158]3 years ago
7 0

Answer:

D

Explanation:

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Huprey Co. is the defendant in the following legal claims. For each of following claims, does Huprey (a) record a liability, (b)
salantis [7]

Answer:

1. Huprey can resonably estimate that a pending lawsuit will result in damages of $1,280,000, it is probable that Huprey will lose the case.

  • Record a liability.  

2. It is reasonably possible that Huprey will lose a pending lawsuit. The loss cannot be estimable.

  • Disclose in notes.

3. Huprey is being sued for damages of $2,400,000. It is very unlikely (remote) that Huprey will lose the case.

  • Have no disclosure.

Explanation:

Contingent liabilities must be recorded only when it is probable that the liability will happen and you can estimate the associated costs.

When contingent liabilities are only reasonably possible or you cannot estimate the amount, they must be included in the footnotes of the financial statements.

When contingent liabilities are not reasonably possible, nothing needs to be disclosed.

7 0
3 years ago
Amy earns an annual salary of $40,000 working for the law office of smith and jones. calculate her gross pay per paycheck if she
Aloiza [94]
1,666 divide it by 12 then divide it by 2
3 0
3 years ago
A two-year bond with par value $1,000 making annual coupon payments of $99 is priced at $1,000.
iVinArrow [24]

Answer:

(a) 9.9%

(b)  10.09%

The further explanation is given below.

Explanation:

The given values are:

Coupon payment

=  $99

Price

=  $1,000

(a)

The Yield to maturity (YTM) will be:

= \frac{C+\frac{F-P}{n} }{\frac{F+P}{2} }

where,

C = Coupon payment

P = Price

n = years to maturity

F = Face value

On putting the estimated values is the above formula, we get

⇒  99+\frac{0}{1000}

⇒  .099

⇒  9.9%

(b)

Although the 1st year coupon was indeed reinvested outside an interest rate of r%, cumulative money raised will indeed be made at the end of 2nd year.  

= [99\times (1 + r)] + 1,099

Came to the realization compound YTM is therefore a function of r, as is shown throughout the table below:

Rate (r)             Total proceeds         Realized YTM ((\frac{proceeds}{1000} )^{.5} - 1)

7.9%                      1205.8                                   9.8%

9.9%                             1207.8                                   9.9%

11.9%                      1209.8                                  9.99%

Now,

Overall proceeds realized YTM:

= \frac{proceeds}{1000} -18 \ percent \ 1,\frac{2081208}{1000} - 1

= 0.0991

= 9.91 \ percent \ 10 \ percent \ 1,\frac{2101210}{1000}- 1

= 0.1000

= 10.00 \ percent \ 12 \ percent \ 1,\frac{2121212}{1000}-1

= 0.1009

= 10.09%

6 0
3 years ago
Production used 2.5 labor hours per finished unit, and the company actually paid $21 per hour, totaling $52.50 per unit of finis
jeka94

Answer:

Direct labor rate variance= (Standard Rate - Actual Rate)*Actual hours

Explanation:

Giving the following information:

The production used 2.5 labor hours per finished unit, and the company paid $21 per hour, totaling $52.50 per unit of finished product.

<u>We weren't provided with enough information to solve the problem. We need estimated production hours and rates. But, I can leave the formula to solve it.</u>

To calculate direct labor rate variance, we need to use the following formula:

Direct labor rate variance= (Standard Rate - Actual Rate)*Actual Hours

3 0
3 years ago
Assume the initial present value of the payments on a lease are equal to the cost of the leased asset. This capital lease is rec
Whitepunk [10]

Answer: D) present value of the remaining lease payments.

Explanation:

When recording a capital lease in the balance sheet of the lessee, the amount recorded is the<em> lower amount </em>between the present value of the remaining lease payments or the cost of the leased asset.

As the <em>cost</em> of the leased asset is <em>equal</em> to the <em>initial</em> present value of the payments, the cost will therefore be higher than the current present value of the remaining payments so the appropriate amount to put in the balance sheet will be the current present value of the remaining lease payments.

4 0
3 years ago
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